9.30 Equation 9.4 shows the relation between a stock's value and the dividend that is expected next year

9.30 Equation 9.4 shows the relation betweena stocks value and the dividend that is expected next year if dividends grow at a constant rate forever. If a firm pays all of its earnings as dividends, show how Equation 9.4 can be rearranged to calculate that firmk PIE ratio. What does this tell us about the factors that determine a firm's PIE ratio?